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South America Clinical Trial Imaging Market Forecast to 2028 -Regional Analysis - by Modality [Tomography, Magnetic Resonance Imaging (MRI), Ultrasound, Positron Emission Tomography (PET), X-Ray, Echocardiography, and Others], Offering (Operational Imaging Services, Imaging Software, Read Analysis Services, Trial Design and Consulting Services, and Others), and End User [Contract Research Organizations (CROs), Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others]
Market Report I 2023-07-27 I 107 Pages I The Insight Partners
The South America clinical trial imaging market is expected to grow from US$ 89.63 million in 2023 to US$ 123.52 million by 2028; it is estimated to register a CAGR of 6.6% from 2023 to 2028.
Spur in Number of CROs Offering Medical Imaging Services Fuels South America Clinical Trial Imaging Market
Clinical research organizations (CROs) assist in the successful implementation of clinical trials through the services offered using high-quality facilities and deep subject matter expertise. CROs have begun acting as a backbone of the clinical trial industry through their efficient and cost-effective operations that benefit trial sponsors. For example, on an average, CROs take 30% lesser time than in-house activity to conduct and complete clinical trials. With the rising number of CROs leading to high competition, some of these businesses offer specialized imaging services, thus emerging as imaging CROs (iCROs). Keosys Medical Imaging and Medica Group PLC are the iCROs examples. The CROs offer key knowledge insights in areas such as site qualification for imaging, acquisition of standardized images, and determination of read designs and criteria, thereby contributing to the growth of the overall South America clinical trial imaging market.
South America Clinical Trial Imaging Market Overview
The South America clinical trial imaging market is segmented into Argentina, Brazil, and the Rest of South America. Brazil held the largest share in 2022, and it is expected to register a CAGR of 7.2% during the forecast period. A rise in clinical trials, key innovation by market players, and government initiatives to support clinical trial imaging are a few factors fueling the market growth. Brazil is a major destination for clinical trials. According to Clinical Trials Arena, in 2021, Brazil accounted for 1.7% share of the global clinical trials activity. In July 2022, Boston CRO acquired Rio de Janeiro-based Instituto Brasil de Pesquisa Clinica (IBPClin), the largest research center in the region, describing it as the first step towards Latin America's adoption of its decentralized clinical trial delivery model. It claims to have conducted more than 160 industry-sponsored research studies, enrolling more than 7,000 participants across 12 Brazilian states.
South America Clinical Trial Imaging Market Revenue and Forecast to 2028 (US$ Million)
South America Clinical Trial Imaging Market Segmentation
The South America clinical trial imaging market is segmented on the basis of modality, offering, end user, and country. Based on modality, the South America clinical trial imaging market is segmented into tomography, magnetic resonance imaging (MRI), ultrasound, positron emission tomography (PET), X-ray, echocardiography, and others. The tomography segment registered the largest market share in 2023.
Based on offering, the South America clinical trial imaging market is segmented into operational imaging services, imaging software, read analysis services, trial design and consulting services, and others. The operational imaging services segment held the largest market share in 2023.
Based on end user, the South America clinical trial imaging market is segmented into contract research organizations (CROs), pharmaceutical and biotechnology companies, academic and research institutes, and others. The contract research organizations (CROs) segment held the largest market share in 2023.
Based on country, the market is segmented into Argentina, Brazil, and the Rest of South America. Brazil dominated the market share in 2023.
eResearch Technology Inc, ICON PLC, IXICO plc, Medical Metrics Inc, VIDA Diagnostics Inc, and WCG Clinical Inc are the leading companies operating in the South America clinical trial imaging market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 South America Market Segmentation
1.3.1 South America Clinical Trial Imaging Market - by Modality
1.3.2 South America Clinical Trial Imaging Market - by Offering
1.3.3 South America Clinical Trial Imaging Market - by End User
1.3.4 South America Clinical Trial Imaging Market - by Country
2. South America Clinical Trial Imaging Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South America Clinical Trial Imaging Market - Market Landscape
4.1 Overview
4.1.1 South America PEST Analysis
4.2 Expert Opinion
5. South America Clinical Trial Imaging Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Accelerated Clinical Trial Activities in Pharmaceutical and Biotechnology Industry
5.1.2 Spur in Number of CROs Offering Medical Imaging Services
5.2 Market Restraints
5.2.1 High Investment and Standardized Infrastructure Requirements
5.3 Market Opportunities
5.3.1 In-Silico Imaging Clinical Trials
5.4 Future Trends
5.4.1 AI-Driven Clinical Trials
5.5 Impact Analysis
6. South America Clinical Trial Imaging Market
6.1 South America Clinical Trial Imaging Market Revenue Forecast and Analysis
7. South America Clinical Trial Imaging Market Revenue and Forecast To 2028 - by Modality
7.1 Overview
7.2 South America Clinical Trial Imaging Market Revenue Share, by Modality (2022 and 2028)
7.3 Tomography
7.3.1 Overview
7.3.2 Tomography: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Ultrasound
7.4.1 Overview
7.4.2 Ultrasound: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Positron Emission Tomography
7.5.1 Overview
7.5.2 PET: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.6 X-Ray
7.6.1 Overview
7.6.2 X-Ray: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Echocardiography
7.7.1 Overview
7.7.2 Echocardiography: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.8 Magnetic Resonance Imaging
7.8.1 Overview
7.8.2 Magnetic Resonance Imaging: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
8. South America Clinical Trial Imaging Market Revenue and Forecast To 2028 - Offering
8.1 Overview
8.2 South America Clinical Trial Imaging Market Revenue Share, by Offering (2022 and 2028)
8.3 Trial Design Consulting Services
8.3.1 Overview
8.3.2 Trial Design Consulting Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Read Analysis Services
8.4.1 Overview
8.4.2 Read Analysis Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Operational Imaging Services
8.5.1 Overview
8.5.2 Operational Imaging Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Imaging Software
8.6.1 Overview
8.6.2 Imaging Software: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
9. South America Clinical Trial Imaging Market Revenue and Forecasts To 2028- by End User
9.1 Overview
9.2 Pharmaceutical and Biopharmaceutical Companies
9.2.1 Overview
9.2.2 Pharmaceutical and Biopharmaceutical Companies: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
9.3 Contract Research Organizations
9.3.1 Overview
9.3.2 Contract Research Organizations: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Academic and Research Institutes
9.4.1 Overview
9.4.2 Academic and Research Institutes: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10. South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 - Country Analysis
10.1 Overview
10.1.1 South America: Clinical Trial Imaging Market, by Country, 2022 & 2028 (%)
10.1.1.1 Brazil: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2 Overview
10.1.1.2.1 Brazil: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.2 Brazil: Clinical Trial Imaging Market, by Modality, 2020-2028 (US$ Million)
10.1.1.2.3 Brazil: Clinical Trial Imaging Market, by Offering, 2020-2028 (US$ Million)
10.1.1.2.4 Brazil: Clinical Trial Imaging Market, by End User, 2020-2028 (US$ Million)
10.1.1.3 Argentina: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Argentina: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.2 Argentina: Clinical Trial Imaging Market, by Modality, 2020-2028 (US$ Million)
10.1.1.3.3 Argentina: Clinical Trial Imaging Market, by Offering, 2020-2028 (US$ Million)
10.1.1.3.4 Argentina: Clinical Trial Imaging Market, by End User, 2020-2028 (US$ Million)
10.1.1.4 Rest of South America: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Rest of South America: Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.2 Rest of South America: Clinical Trial Imaging Market, by Modality, 2020-2028 (US$ Million)
10.1.1.4.3 Rest of South America: Clinical Trial Imaging Market, by Offering, 2020-2028 (US$ Million)
10.1.1.4.4 Rest of South America: Clinical Trial Imaging Market, by End User, 2020-2028 (US$ Million)
11. South America Clinical Trial Imaging Market - Industry Landscape
11.1 Overview
11.2 Inorganic Growth Strategies
11.2.1 Overview
11.3 Organic Growth Strategies
11.3.1 Overview
12. Company Profiles
12.1 eResearch Technology Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 ICON PLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 VIDA Diagnostics Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 WCG Clinical Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Medical Metrics Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 IXICO plc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil Clinical Trial Imaging Market, by Modality- Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil Clinical Trial Imaging Market, by Offering- Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil Clinical Trial Imaging Market, by End Use- Revenue and Forecast to 2028 (US$ Million)
Table 5. Argentina Clinical Trial Imaging Market, by Modality- Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina Clinical Trial Imaging Market, by Offering- Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina Clinical Trial Imaging Market, by End User- Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of South America Clinical Trial Imaging Market, by Modality- Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of South America Clinical Trial Imaging Market, by Offering- Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South America Clinical Trial Imaging Market, by End User- Revenue and Forecast to 2028 (US$ Million)
Table 11. Recent Inorganic Growth Strategies in the Clinical Trial Imaging Market
Table 12. Recent Organic Growth Strategies in Clinical Trial Imaging Market
Table 13. Glossary of Terms
LIST OF FIGURES
Figure 1. South America Clinical Trial Imaging Market Segmentation
Figure 2. South America Clinical Trial Imaging Market by Country
Figure 3. South America Clinical Trial Imaging Market Overview
Figure 4. South America Clinical Trial Imaging Market, By Modality
Figure 5. South America Clinical Trial Imaging Market, By Country
Figure 6. South America: PEST Analysis
Figure 7. South America Clinical Trial Imaging Market: Impact Analysis of Drivers and Restraints
Figure 8. South America Clinical Trial Imaging Market Revenue Share, by Modality (2022 and 2028)
Figure 9. Tomography: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. Ultrasound: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. PET: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. X-Ray: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Echocardiography: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. Magnetic Resonance Imaging: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. South America Clinical Trial Imaging Market Revenue Share, by Offering (2022 and 2028)
Figure 17. Trial Design Consulting Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Read Analysis Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Operational Imaging Services: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Imaging Software: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. South America Clinical Trial Imaging Market Revenue Share, by End User (2022 and 2028)
Figure 23. Pharmaceutical and Biopharmaceutical Companies: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Contract Research Organizations: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Academic and Research Institutes: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: South America Clinical Trial Imaging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. South America: Clinical Trial Imaging Market, by Key Country - Revenue (2022) (US$ Million)
Figure 28. Brazil Clinical Trial Imaging Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Argentina Clinical Trial Imaging Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of South America Clinical Trial Imaging Market Revenue and Forecast to 2028 (US$ Million)
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